–President Ali says next five years will build on current developments and drive an even more ‘ambitious’ transformation

MORE than 4,000 small and medium-sized enterprises (SMEs) have benefitted from grants amounting to over $ 1 billion, as the government continues to empower these types of businesses to fuel the backbone of Guyana’s economy.
Minister of Tourism, Industry and Commerce, Susan Rodrigues, during a recent broadcast, spoke extensively about how the government’s SME push is reshaping livelihoods nationwide while simultaneously fostering inclusive growth.
The minister was building on the momentum set by President Dr Irfaan Ali, who previously outlined a five-year national development agenda that sees plans of zero-interest loans for micro businesses and SMEs, along with the expansion of opportunities for women, youths and Persons With Disabilities (PWDs).
Minister Rodrigues said: “Micro, small and medium enterprises are central to Guyana’s economic transformation. They are the backbone of any economy, and in the last five years, we have spent over $1 billion, that have been distributed in grants to over 4,000 businesses. So, in the past, we have had a range of support services that we have given to micro, small and medium enterprises.”
President Ali, during a previous address, stated that in 2026, SMEs will be able to access loans of up to $3 million at zero interest and without collateral through the new Guyana Development Bank. Those SMEs will also benefit from mentorship, training and the support needed to turn ideas into thriving businesses, he said. Highlighting previous achievements, the President said that more than 50 per cent of the beneficiaries from the small business grants were women.
“There is no other jurisdiction that can point to a policy that directly impacted the lives of 50 per cent of the impact were women and we are just getting started. Building on these gains realised during our first term, our agenda for the next five years is one of even more ambitious transformation,” Dr Ali stated.
Propelling Guyana’s development
Minister Rodrigues said that President Ali’s five-year vision for Guyana focuses on inclusive, diversified and people-centred transformation, ensuring that all Guyanese, regardless of their background, ethnicity, religion or location, benefit.
She said: “Guyana is being positioned as a confident, globally competitive economy driven by its people, and this sector allows all of us an opportunity to be a part, especially in the tourism sector,” adding: “There is no secret to our national agenda and the plans that we have to really propel Guyana’s development, and we want to ensure that every single Guyanese is a part of this process. That is why we spend all this time expounding on our vision, explaining our plans, and also ensuring that people understand the long-term benefits and positive effects of each and every single initiative, intervention and project.”
Speaking further on the interventions by the ministry, including grants, the Minister said that there have been tremendous investments to support community development.
She added: “The Small Business Bureau continues, of course, to expand access to concessional loans, to mentorship and to incubator support. Over 11,000 businesses have been trained in the last five years. This is the level of investment that we are making in our micro, small and medium enterprises- training is an important part in upskilling our people, but also ensuring that we build resilience into each business, whether small, micro or medium size. Persons living with disabilities have benefitted from our programs.”
Through the Small Business Bureau, more than 50 PWDs have been able to access loans at 0 per cent interest rates through the agency, the minister said, noting that this allows them to actively participate in Guyana’s growing economy.
“They have been empowered with financial freedom, and we continue to monitor and support their businesses and their livelihoods,” the minister added.
Speaking on how businesses have been presented with the opportunity to gain exposure with the bureau’s support, she first revealed that over 50 businesses received sponsorship to take part in the recent GUYEXPO, where they displayed products for free and were able to reach new markets. Additionally, 16 SMEs received sponsorship at the ongoing Christmas Village on Main Street. She also pointed out how business incubators in Lethem and Belvedere were established under the People’s Progressive Party/Civic (PPP/C) government.